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WASHINGTON – June 30, 2010 – Thanks to new federal programs that offer cash incentives, some lenders are turning to deeds-in-lieu as the best solution for underwater borrowers willing to turn over their properties.

It’s cheaper for lenders to do deeds-in-lieu because it gives them overnight control of the property. With mortgage rates at less than 5 percent, lenders believe that they can resell a property faster and on more favorable terms than they would receive going through a short sale.

 An expert in short sales and deed-in-lieu deals for Bank of America, says his company is offering cash incentives that range from $3,000 to $15,000 to persuade troubled borrowers to sign on.

Deeds-in-lieu don’t harm a borrower’s credit rating as much as a foreclosure or a bankruptcy, but because they are treated as debts that are “not paid as agreed,” they do leave a mark on credit scores.

Customers that are selling their Grand Caribbean Dunes Unit at a loss because of the market came in yesterday and said they took an evening walk on the beach Sunday Night and they had to step over what looked like round circles of gloup

What ever that is,,,,It was hard for them to describe,,,they said when the walk was over they had to wash their feet with Dawn dishwashing liquid,,,someone had left a bottle by the showers on the beach so I guess all who visited at the Caribbean Dunes Access experienced this,,,,

All in All we have had a great spring and good start to summer at the beach with the Oil gushing millions of gallons of oil since April 20th,,it is bound to give us some effects,,,,

Great time to get some good prices on our vacation properties,,,Destin will always be the place to vacation,,,get them while the getting is good,,,Just like storms ,,,we will recover,,,,our sand is still white,,our water is still blue green,,and when the tar comes in we get it up and will continue to do so,,,,You better get these prices while they are hot and Come on down you will enjoy the beach just as much or more,,the traffic is lighter,,,,

Hello all! This week I think the rain is more of an issue than the oil.

We have went out to 15 different Beach locations . We have seen minimal tar chips floating with reaction teams at all locations.

From Destin Beaches on Holiday Isle to Okaloosa Island we have beautiful Sand,,,and surf,,,,From Destin to Inlet Beach people are swimming int he most beautiful water you have ever seen,,,,every now and then you get a tar chip in sight,,the Media is going into a frenzy and they will ruin your vacation if you listen to them,,,,

Right now is the best time to buy,,,prices are low,,,mortgage rates are low,,,and deals are to be had,,come pick a vacation home to use and rent,,,you will be glad you did,,,,Destin Lives on!!!!

There is some June grass out,,but after all it is June!!!

Destin Beaches are looking good this morning,,went out early to take a peak.

Water color had no tar balls that could be seen by the eye,,beach is beautiful.

Miramar beside Pompano Joes looked awesome no tar balls in sight.

Destin Beaches and the Harbor has had no Oil a tall this week.

Sandestin Beach and Golf resort had some June grass this morning but no Tar balls.

Tell Every one to come on over to Destin for some Sun and fun!

Put in two offers this week,,,one for a water color unit on Western Lake for $835,000 Customer offered a good price in a buyers market of $650,000 that was countered at $800,000 customer is putting in another offer,,but the markett is moving,,,,and sellers are getting multiple offers.

Last week I put in an offer on a house that was listed for $1,699,00.00 the offer was for 1.3 and the seller got three offers with ours just being rejected,,,it is turning back into a sellers market! 9:01:46 PM

Market busy today on Fathers Day. I have had three calls to go out and show listings.

I went out to the Beach in Panama City and showed a Calypso unit,,these units are right on the Beach next to the new Pier Shopping Plaza and all the happenings on the Beach . What a beautiful day! You can get a 1 bedroom and 1 bath for about $169,000

I went out to Wild Heron to show one of my foreclosure units that is a 3 bedroom 3 bath ,,What a wonderful unit.The views of the lake and Bay from all rooms are great this unit is right in front of the Pool Pavillion,,with pools hot tubs,,,people were having fun today,,sits right on the Bay,,,,Unit is $229,000 asking ,,,the bank is ready to sell.

I also went out to show Caribbean Dunes a 1 bedroom with Hall bunks in Destin marked down to $149,900.00

Oil is not in Destin or Panama City Now ,,,and will not come as long as the wind is blowing it away,,,

THe market is hot and we are selling Condo's and investment houses. The market is up 50% over last year with 149 Condo's sold since May 1st until today,,that is not even 60 days,,,Short sales are getting multiple offers if they are priced right,,and foreclosures are going under contract with multiple offers if the bank is right on the prices,,,Do not miss your chance to Buy property.